Question
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows. AssetsLiabilities & Stockholders' EquityCash$109,000Notes payable (due in 6
A condensed balance sheet for Bradford Corporation prepared at the end of the year appears as follows.
AssetsLiabilities & Stockholders' EquityCash$109,000Notes payable (due in 6 months)$43,000Accounts receivable110,000Accounts payable82,000Inventory280,000Long-term liabilities346,000Prepaid expenses60,000Capital stock, $5 par300,000Plant & equipment (net)570,000Retained earnings448,000Other assets90,000Total$1,219,000Total$1,219,000
During the year, the company earned a gross profit of $1,116,000 on sales of $2,950,000. Accounts receivable, inventory, and plant assets remained almost constant in amount throughout the year, so year-end figures may be used rather than averages.
a.Compute the current ratio.(Round your answer to 2 decimal place.)
b.Compute the quick ratio.(Round your answer to 2 decimal place.)
c.Compute the working capital.
d.Compute the debt ratio.(Round your percentage answers to nearest whole percent. i.e. 0.1234 as 12%.)
e.Compute the accounts receivable turnover (all sales were on credit).(Round your answer to 2 decimal places.)
f.Compute the inventory turnover.(Round your answer to 2 decimal places.)
g.Compute the book value per share of capital stock.(Round your answer to 2 decimal places.)
I am having issues with e. f. g.
I came up with e. 10.15 f. 10.54 g. 18.60 for these and I am wrong.
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